Vladimir Putin’s gold strategy explains why sanctions against Russia have failed

There are more than 16,000 sanctions imposed against Russia. Yet the Russian economy and war machine grew by 3.6 per cent in 2023 and is projected to grow another 2.6 per cent in 2024.Nearly six per cent of Russia’s gross domestic product goes towards military spending. At a time when Ukrainian President Volodymyr Zelenskyy is scrambling to acquire arms, funds and recruits, Vladimir Putin seems confident in his ambitions for the future.How have 16,000 strategic sanctions issued by some of the most powerful economies in the world failed to derail Putin?As I recently watched the news break on CBC about Russia’s robust economy, an advertisement from the World Gold Council popped onto the screen. And there was the answer, hiding in plain sight: Gold.

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